singapore and shanghai. >> let's have a look at our top stories. evergrande suspending trading in hong kong along with his property service and ev divisions. a day after bloomberg revealed that it's billionaire founder is under police control. the news adding to the overall gloom across markets. investors grappling with the expectation of higher interest rates and rising oil prices fanning inflation. dollar bonds rising. bloomberg learning that the world's empire is nearing a deal to spinoff businesses in what would be a broad restructuring. haslinda: risk off here in asia. multiple headwinds surging. yields surging. surging all prices. geopolitics to boot. china reclaiming its pandas, suggestions that relations between the two not looking pretty.

benchmarks here in asia. the nikkei to 25 expanding its loss to one point first -- 1.7% losses. a sei being dragged bound -- down by tech in particular. hsi down by more than 1%. csi also under pressure. evergrande. you will be talking more about that. take a look at the fx space. we have the dollar consolidating somewhat but it's a strong dollar story. currently, pretty flat. weighing on the taiwan dollar. get down by 3/10 of 1%. the offshore yuan currently trading up by 1/10 of 1%. we talk about the yuan, you have to talk about the strongest fix on record in excess of 1400 pips stronger than anticipated. clear messaging from the pboc, not letting up on support for the currency. brent crude.

wti crude inching ever closer to $100 per barrel. putting in place at inflation story yet again. you have to wonder how the federal react. yields trending higher in the bond market. similar to what we saw overnight. lots of big swings for treasuries. 10-year gilts in excess of 50 basis points before finally rising by about nine. here you have it. australia 10 year yields up by almost eight basis points. rishaad: the open in bangkok. little change at the moment for the set. a quarter of 1% to the upside. at least it's moving higher. a weaker 36. 70 right now. we have the bank of thailand delivering it's a straight increase. borrowing cost relatively low but still competitive.

2.5%. looking at the usual suspects. developers down to tenths of 1%. country garden is following with the restructuring talks going on. sumac trying to get into the green as it were. one that is not there is specifically china evergrande. it's not there because they've suspended share trading a day after bloomberg revealed that it's billionaire chairman and founder was under complete control. -- police control. our reporter is with us now. what is the latest with evergrande, given that the chairman is now under police control? of course, we have possibly a winding up order. >> yes. it is fair to speculate that this suspension of trading of all evergrande units might be

related to that ongoing investigation into evergrande businesses. to with its -- of its former executives were also under police detainment. we know that the founder is under house arrest. it seems like there's a criminal case ongoing there and we don't know yet what kind of charges will be brought against the former executives. one thing is certain. the evergrande restructuring plan will not have a resolution in the near term. we know that there was a key creditor group that hasn't agreed to its plan. meanwhile, it's not able to issue new debt which means that any of these plans added has proposed cannot be formulated or realized in the bond market. that seems to be because of some regulatory hurdles right now. haslinda: restructuring off sword -- offshore debt. news -- new shockwaves for the industry. lorretta: country garden is also

an ongoing story. we reported that it's been struggling to pay all these small amount dollar coupons. i think the restructuring is within people's expectation. to some extent, creditors should feel happy that they are showing willingness to embark on a restructuring plan instead of kicking the can down the road. on the other hand, if you look at the market reaction, people are unexcited about this restructuring prospect. during the past two years, we don't see many developers coming out with a kind of concrete restructuring plan and being able to implemented. the prospect seemed pretty bleak for the entire sector here. haslinda: absolutely. lorretta chan, thank you for that update. the u.s. benchmark oil price has hit $95 per barrel for the first time in more than a year after

stockpiles fell to critical levels. our energy reporter is following this for us and joining us with more. 100 bucks is nearer then you expect. >> yeah. i think it's now expected that we will be hitting $100 for brent crude. brent is around $97 right now. going off those three more dollars. it wouldn't be very hard, especially when you look at the supply situation in the market. opec-plus, russia, saudi arabia are cutting barrels by one million barrels per day through the end of the year. you have this really critical storage area in the united states where wti is priced out of. it has fallen down to 22 million barrels. to me and you, that sounds like a lot. actually, it's the lowest level in over a year. it's a critical level where it can't operate below their. you can't really take much crude

out of their because the quality will be poor. it will be mixed with water. you are not able to take much more crude out of this really critical storage area to get if you do want to take crude out of their, it will cost you a lot. there is some good news. in the short term at least, we are entering the refinery maintenance time. that means the refining companies won't be taking a lot of crude out of storage. they won't need much crude for the next few months. going forward into the winter, especially when you have potentially some relatively strong demand coming out of the united states as well as china, you could see crude prices continue to trend up and it does look like $100 level is going to be coming pretty close. rishaad: what about the fact that there are long positions being built up? it's huge in terms of how much

people are betting on them going long. oil position is 15 longs for every short here. that's a mismatch. is $100 also not just a psychological level but a technical barrier as well? stephen: you know, when you look at the options market, when you look at the way that people are taking their bets, folks are betting on more volatility. they are betting that they will see some wild swings. as we enter this time where there's is less supply, where stockpiles are lower, any sort of data point, any sort of news, anything that comes out of the market, you could see a swing in prices. that's what people are betting on. is $100 sustainable? can you go above $100? what does that mean? $100 be hit and can be hit at

least in the short term. next year, opec-plus hasn't promised production cuts from january onward. they will be under a lot of pressure to bring barrels back into the market. not just by the united states but by their allies and their customers. saudi arabia is rising prices for customers they have around the world. they are not thrilled about that. that encourages more inflation in their home economies. going forward, how does opec-plus respond? the idea that $100 will be hit might not be sustainable because you will see this balancing in the market. maybe it is shale drillers. u.s. shale drillers might come in and say, let's put some wells in and produce more to take advantage of this price to make a better profit. while we haven't seen a huge reaction yet, as we get to the end of the year and as $100 is cemented, you can see more of that coming in.

haslinda: who would have thought $100 per barrel? thank you. still ahead on bloomberg markets asia. we discuss the outlook for india's bond market with the sovereign debt set to join jp morgan's and bond index analysis. rishaad: more insights on what's going on with oil. we will be talking with united overseas who says they see brent testing 100 bucks there per barrel very soon. this is bloomberg. ♪ the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com

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overnight. aussie tenure rising to the highest since 2011. jgb's hitting 0.75% for the first time since 2013. the bond market front and center. those searching yield impacting the performance of stocks h witf markets and strategy at united banks. joining me here in the mayan city. good to have you will -- with us. yields trending up. >> indeed. we are heading into the fourth quarter with a very difficult environment. higher oil prices, higher long-term bond yields. you can trace this move back to months ago when the u.s. treasury has started to issue more treasuries. that started after fmc. the market got that message from the fed. pushing right so little bit higher for longer. you see this big move in trend your yes or -- in 10 year

treasuries. haslinda: headed to 485, 5%? what are you looking at. it would be chaotic for markets. >> i think it's a process. the market now needs to adjust to higher funding costs, higher duration risk. there will be some credit events here and there in the weaker sectors. this is par for the course. our view is that long-term 10 years and treasuries should settle around 430. having said that, the supply concern is there to push it higher. on the technical charts, my technical analysts are saying for 70. potentially five. i guess that's what the traders are seeing. let's hope we don't get there. rishaad: when you look at this treasury market, we haven't had bonds boosting back to back

losses in years. this is going back to 1973 here. returns were even positive during the voca area -- era. we are in uncharted territory. if we keep going down and we end up with a third back-to-back fall, it feeds on itself. in itself, it can elevate borrowing costs and that could engender a recession by itself. >> indeed. in all our conversations with the corporate's and institutional's, there's an increasing sense of worry as to how they will refinance and fund for next year. clearly, there's a lot of benefit after refunding from the lows of the covid years. but now the next sack -- set will be at a much higher level. everybody is waiting for their 50 basis point drop. just get back into the market to

issue debt. there is a wave of financing that's just waiting to come in. you just need to adjust to this market. rishaad: absolutely. that's what i wanted to talk to you about. the drivers at the moment are the curbs by saudi and russia. on top of that, the strategic petroleum reserve falling ever so months. we are in low territories. stockpiles at these major storage hubs dropping to critical levels. the u.s. doesn't have any wiggle room either. how high do we go and what effect does that have on markets? >> this supplies squeeze is very real.

as long as saudi arabia and opec keeps up their production curbs, there is little room for the biden administration or the major oil hubs to basically come in and fill that gap. we've just raised are call two weeks ago. we have a high rate dollar forecast. that's for first quarter next year. if the squeeze continues, the thing is this. when we have oil prices hitting 100, your transportation costs will start to head up again. at the very least, the worry is the slowdown that will drop inflation and will not come down that fast anymore. case to point yesterday, after the bank of thailand statementsy clearly, precisely that they see inflation creeping higher next year because of higher energy prices because of el niño. haslinda: it won't just be

thailand. inflation story back in play for just about everybody including the fed. >> at the least, that pullback in inflation will have to take a backseat. best case, core inflation stays around here. the rise in oil affecting headline inflation. it doesn't move much further beyond that. haslinda: dollar, no sign of speaking. how much more upside? >> we are frustrated. what we call is prolonged dollar strength. on our evaluation, currencies are very cheap. ozzie is a very cheap currency. how long can this continue? the tight liquidity situation in the fourth quarter will push a little bit. eventually, dollar should top. haslinda: we've heard that before. >> correct. we are getting near there. once the market starts to look forward to fed cuts in the

second half of next year, the dollar should top. we need to get past this time where the dollar is strong. since we are in singapore, the side effect is that we have a strong singapore dollar. make the best use of it. rishaad: ok. dollar is one thing. if you look at the yuan, it excludes the dollar in the whole story. it is strong against its peers. we have very high levels against again for one thing. what does that inform you about the chinese economy as such, given what's going on? >> the index is reasonably not as bad as it looked like versus what you see against the dollar. i think we are in a situation where the chinese economy needs to find a new growth engine to

replace what all of us are familiar with. whether it's trade, whether it's property or infrastructure related spending. the issue here is that there's a lot of uncertainty when it comes to employment, when it comes to travel. the rest of the world has gone back into full holiday swing. but we have not started travel back in china. they haven't come out to the rest of the world in a meaningful way. there's a bit of disconnect that the chinese economy needs to readjust in terms of manufacturing, travel, spending. what we have for the remember the against the dollar, ideally the bulk of debt depreciation should be over at 730. get a bit of consolidation around here will do good. haslinda: we will be heading -- eating your advice. i will take advantage of that strong dollar. breaking news right here. hsbc set to acquire citigroup china consumer wealth management

business which manages more than $3 billion in assets. that's according to two sources with knowledge of the matter. this is a major boost for the london-based banks business in china. hsbc set to acquire citigroup china consumer wealth management business. we will bring you the details once they come through. plenty more ahead. keep it here with us. this is bloomberg. ♪

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coming. >> so i think if you look at where content that was being recommended to you want instagram, being very open about the fact that we were already leaning into this recommended, unconnected content. content that was not connected to your family and friends. that are ai systems have been able to scour the internet and say, you might find this amusing. you might find this educational. you cnl -- an acceleration of ai systems increasingly generating content. making sure that people can distinguish between the providence, the origin of something which is generated by ai rather than human beings. we will have watermark, visible clear watermarks on the photorealistic imagery that

people will be able to use in something called/imagine which is our photorealistic tool integrated into meta-ai which is our meta-chat gpt equivalent. you can ask it anything from restaurant recommendations from this evening to how to plan your next summer holiday. >> this will be baked into messenger, whatsapp. >> exactly. all of that gets it baked into all of the platforms come into the messaging apps as well as social media. again, i think this is a new departure. some companies look at characters on ai. we will be leaning into the development of ai characters, personae. from jane austen to tom brady style sports expert. it's a big range there. >> as more people start to use

these tools, i imagine that creates a really bubba -- robust data set to train these models. do users have the ability to opt out if they don't want to be part of that training set? >> they do. they have ability to delete data when they are interacting with some of these ai characters that i spoke about. >> sorry to interrupt. are they an alternative to having a friend? can you message someone that you wish existed who doesn't? >> it'll be very interesting. i think the truth is, let's see how people use them. often it's the most unexpected use cases that take off. but you will be able to bring in these ai persona into a group chat so you have a mixture. if you are a group of friends organizing a holiday, you will be able to altogether chat with one of these travel agents who

will be able to give you recommendations in that chat group. haslinda: that was that clack speaking to bloomberg originals. let's take a look at apple suppliers as well as chip stocks on the back of some of those new apple owners saying that the new iphone 15 pro got too hot while in use as well as while charging. samsung electronics down by 3/10 of 1%. all stocks in play. all headed towards $100 per barrel. b(jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued.

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rishaad: just seeing shanghai. we are heading to the lunch break. we are looking at what is going on, we have more corruptions

starting things with evergrande being suspended. it is not in favor with investors. but on the move right now with regards to what is going on with these markets. it is not good news overall. greater china equities seeing the suspension. you know the developer at the center of the crisis it is hurting the economy and hammering confidence. days after am a grand -- evergrande said it would scrap meetings. it is a strong headwind anyway for equities, as we head towards the lunch break. looking a bit positive for the csi, shenzhen market. that is the lowest level we have seen for those trading in hong kong, going below the 6000 level. that has not been seen since last november. there we go. that is what we have making headlines. tech weaker.

the property index is down. the overall market, we've had just a half before lunch. hong kong also headed in the southern direction. a lot of pressure on equities. haslinda: well especially chinese stocks, under pressure ahead of the holiday. let's bring in our senior asian equities reporter. today's the last day for the chinese market. not looking pretty. enough bad news to weigh on sentiment. >> that is right. china has become a tactical trade. a lot needs to happen in terms of the catalyst and more stimulus. i don't think it is going to change that. before we focus -- the focus shifted on -- we were talking about how all of this needs to be done, the impact of policies shows up in china's gdp. now we are talking about it.

it is not the year or decade. it may not change everything. it may throw some things on consumption. the slowdown, you know, the dip -- disappointment around policy moves, it looks like those trends may not be as great. it may not be extrapolated. a lot of stocks and indexes are wiped off the reopening gains. that may be a train that may continue. some investors, for tactical allocation, it looks competent. the rest of asia also looks good. haslinda: you have to wonder if we are close to a bottom? >> right. the chances are getting louder, that we are close to the bottom. there is a matter into looking into that argument. the valuations are so cheap. they have started moving lower from current levels but, is there catalyst on the horizon, does government need to do more to lift the economy? those are two things that need to be answered.

glass half-full, half-empty kind of outlook on china. there is a bottom in place but the -- that is for the teams that are tied to xi jinping's administration. you keep talking about it. but, the china that was there before covid, that has yet to bottom. we need more evidence to come comfortably go and trade china. which is a 30% index. we know from our reporting, a lot of investors are running china at 15% to 18% in terms of allocation. that shows that there is a structural decline or risk on the horizon. rishaad: if we look at china, we can look at how well japan has done, it will take the battle as has india.

is there going to be a discount in place for indian equities or chinese equities? how much would that be, roughly? what will it take to turn things around, here? >> right. there would be a risk in place. given the outlook for japan especially possibly the best bet in the markets, after the u.s. because of the trade, in india because of its structure of bullishness, there would be a discount in place in china. but that discount is getting reflected in india which is trading 18 times. look at japan which is coming out of deflation or valuations that started to expand. china's trading about 10 times. there will be a discount in place. more so from the allocation point of view. we had discussed in past. some instances are running at a 2%. we're weighting in -- waiting in our portfolios. that is possibly where the

future is. you have china at 30% right now. but the weight -- rating has reduced. it used to be 45%. it is 30% now, going to 80%. so, there will be outflows. i mean valuations are cheap. investors would be a lot more comfortable buying the same market at 12 times are 13 times if there is a catalyst or recovery that has enough evidence to convince china's back on its toes. rishaad: thank you so much, good stuff, our senior asian equities reporter. you see a lot of these outflows. people are looking at china and deciding to invest in india instead or even in japan? if we have a look at the indian market, we have this inclusion of the country's bonds into jp morgan, market embassies. the head of global markets at icici bank.

thank you for joining us. how does this move the dial for the nation's bond markets? >> i think it is a very important development for the indian bond markets. that is something that will be under discussion for long. it will take fund managers internationally on the need to introduce india, due to its size of relative importance, within the em, especially with other countries dropping out of favor. in terms of what does it mean, important thing, or the changes that the index does is now the indian government bonds becomes an asset class. by its own becomes much more acceptable in the portfolios, and even phones that don't necessarily follow the index going forward, will start allocating towards indian bonds. it paves the way for a systematic engagement of foreign portfolio investors, with the indian government bonds and

kinds of leads for most investment environments. also the fact that there are more businesses that will get the bond index, which will include india. over the next 15 months or so. the reaction has been a bit muted. but that is because of the fact that the global macroeconomic variables have been against investing, u.s. bond deals by 100 base points, crude oil is down, dollar is strong. i would say that even though the bonds have not fallen, it has done well relatively, and has been holding the pressure from the global macro issues. rishaad: you've got those headwinds, if you will of pressure on the bond prices. yields are likely to be moving to the downside in india with all the money coming in. surely there will be depreciation, here? >> yeah. that is right. when you see a 10 year bond deal of the u.s. go from 3.5% to

4.5%, globally or bond deals, there still more that needs to go up. if not for the bond index inclusion, you will probably see bond deals at 730. we are still at 715. i don't feel in the near term, i would see the 10 year between 710 to 720 range. as the active inflows, we have an active inflow estimation in the regional $7 billion coming in in march, we have a passive flow of. . $25 billion even if bloomberg gets the bond and that that is not included. that happens on june 24 and onwards. we could see the bond deal, with and hopefully by that time the macro will be in favor of the fed reaching its peak. haslinda: do you see the inclusion moving the needle for

the rupee, which is hovering near a record low? >> yes. like i said, since i expect some inflows to happen over a period of time, starting soon. it does make a difference. but, i think, fair-minded the dollar index has been amazingly strong, we are talking about the index higher than seven. the u.n. depreciation -- yuan depreciation and other currencies not doing well. one thing is international pressure and the pressure of the dollar doing, which is to weaken the inr. on the other side you have inr fundamentals which is the deficit of the bop, not being too negative for the country at this point in time. even a $5 billion deficit this year, they feel that the capital flows are going to pay part of that. we have a bop surplus of $5 billion. with all of this, i think what does the iron -- ini do, does it

gradually depreciate? that becomes the most important question. haslinda: how do you expect the are b.i. to manage liquidity -- rbi to manage the quiddity? what actions may take? >> i think the are b.i.'s -- rbi's function, it will be key to preventing it from depreciating and add to its foreign reserves, so it will not depreciate much. how will it we can, which is -- we can which is by expanding, which is not foreseen right now but will happen. but if the global macro were to adverse, than the rbi, wood have a gradual depreciation. do we still think that they will come to prevent any volatility?

i think we would say they will continue to be in the range of 82 and 84. what it will do on the liquidity side when inflows are coming in late, it is clear that the rbi will not let liquidity intervene. they will give them rupee security but will not let rbi stay in the system. they have enough tools to succumb to liquidity as well. we have not seen the bottoming of inflation. they would like to see inflation lower going forward. rishaad: but they can't do much about inflation which is cost push, only if it has the feedthrough into the demand pull. but give us a sense of how and why they would tighten at this point. is there any case for it? >> i am not saying that they will tighten it further. i'm saying, the policy they have had, will have a pause of the

rates even when the fed has been hiking. at the same time they are having a hawkish stance, which they call it as withdrawal of accommodation. they cap liquidity in the banking system tight. -- kept liquidity in the banking system tight. if you let liquidities around in the schism -- system, while agree with you i think the thought process is that liquidity does need translation and inclusion at some level. the previous speaker was speaking about india being bullish from a structural perspective. . it is not that india slowing down. there is growth. we are doing pretty well. i think the need for rbi is to control inflation and bring it down into the focus. from that perspective i think there will be stabilizing of liquidity. haslinda: thank you so much for your insights today. icici bank head. keep it here with us. this is bloomberg. ♪

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haslinda: welcome back. mumbai, looks like india set for

a flood open today. bloomberg learned indian conglomerate as close to a deal to spin his businesses through a series of public listings. its parent vedanta resources will stay is the holding company to better manage the debt. for details, let's ring in our south asia editor. run us through the plan here. >> so they are looking at spinning off several businesses placed within its indian flagship. an announcement could come as early as tomorrow, while getting the process done with all the approvals in place could take almost a year. this is a plan which the billionaire, the founder of the group, has been doing for years because, he really wanted to get rid of the corporate structure. what is forcing his hand is the

group is deeply liberal. they need to take steps to do this. now, from what we understand, the business within the flagship, including aluminum, iron, steel, oil and gas, will be super -- listed separately. we're waiting for the announcement. it should come tomorrow. we're watching closely. rishaad: what are the implications of all of this? what does it tell us about what he is thinking? >> the implications are many fold, considering the million -- 10 billion market cap companies the flagship. the biggest impact would be -- which the group has been pursuing for the last couple of years. you have to keep in mind, the ratings of the company earlier

this week. they have $2 million worth of bonds over the next year in repayment. all of these bonds have already inched up in trading after we brought the news, which means they are taking it as a positive step. now, what the baying -- paying off of business could do is, may be have a stake in the low profit businesses and use liquidity to pay down some of his debt. it also gives investors the opportunity to bet on the businesses which are the high-growth, which is high-priority as of now. so, to summit up, the biggest impact would be a boost by the group to pay down the debt and deleverage at a quick pace. this also gives the lenders more

headroom, while also negotiating governance for restructuring. rishaad: up .5%. our southeast asia joining us from mumbai. we are moving to the upside here. we're looking at broad-based gains, for the nifty, hitting higher. the trajectory, whether they could be sending new record highs. we are looking also at what is going on between auto and new daily -- new delhi in the face of all of this. haslinda: we are talking about the diplomatic standoff between the two countries threatening to spill over into their economies. a proposed early stage trail is there, after prime minister justin trudeau accused the assassination of a leader.

put this in perspective for us, what is at stake, how much is at stake? >> well there are billions of dollars at stake. there are people connections at stake. there are multilateral relationships at stake. what we still don't have enough information -- but we still don't have enough information. we don't know what credible evidence canada has or how much of that has been shared with india. but most importantly, we don't know wear the u.s. stands in the process. did it help canada with collecting the evidence? is it putting pressure on either of these countries in terms of resolving the situation? all we know as the u.s. has said it believes india should cooperate with canada in bringing the investigation to its logical close. that, i think, will be the critical question that foreign policy experts across the world want answered.

there are many opinions about which way the u.s. will go. canada is its neighboring close ally. let's not forget india has become america and for many other western nations, a hedge in asia against china's growing dominance or supremacy. that is the foreign policy angle. all of this threatens to spill into the economy. we have several large canadian investors, invested in india. the numbers are in tens of billions of dollars, ranging from investments by canadian pension funds to brookfield, which is invested across a set of assets from real estate to even green energy and public equities. we'll be keeping an eye on all of this to the course of the next few days. that is what i write about in my newsletter. let me tell you, today we have india's external affairs minister meeting with the american secretary of state. that is later tonight in

american time, in the u.s., on the sidelines of the u.n. general assembly. rishaad:. thank you very much. . our bloomberg senior editor in mumbai. you can get her latest updates on all things india. you can subscribe to our india news addition. -- addition newsletter. ♪

haslinda: let's take a look at some of the big stories we are following. the ceo of sony directive entertainment is stepping down after 30 years with the company. he's let the lucrative playstation -- led the lucrative playstation unit since 2019. he will step down underscoring the important -- importance of division. the company seeks a successor. micron it fell in late trading after a steeper loss than

anticipated. th companye projected 1.4 million dollars share, estimates say they lost the figure, it indicates an industry slump weighing on the largest u.s. maker of computer chips. an agreement of a five-year partnership with peloton, teaming up on apparel. lululemon will make clothing that peloton will sell on its website and at retail stores. peloton's fitness content will be offered to users of the lululemon studio mirror. the sec is finalizing settlement with two dozen wall street firms, for investigations into record-keeping. reuters cites sources saying the settlements are with investment advice dealers. they have top $2.5 billion after the regulators to your crackdown

on traders use of whatsapp and other messaging apps. rishaad: we are looking at markets. we are looking at the dollar, just a tableau or. -- thaad l -- tad lower. we have the 20 year yield on the jgb, the highest level since 2014. sovereign debt is being global -- sold globally. oil is lurching to the upside heading towards that $100 a barrel level. looking at what is going on with the cnh. the pboc came out and used a fixed which was 1426 pips below what the fed -- traders were thinking, a bigger gap on record, leaving traders with bus that the central bank will not relax anytime soon ahead of the holidays for golden week.

investors are going into this period, we have the dollar trading with the anchor of an onshore renin be. cnh we are talking about here. everything is read, take a look at one sector, energy is moving to the upside because of the oil price, being propelled close to $100 a barrel. stock barrel, that is the only sector on the way up. hong kong's offer lunch. daybreak middle east and africa is up next. ♪ t time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com

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